Wige Media posts revenue increase

German production company Wige Media has posted a five-per-cent rise in revenues to €63.3m ($71.2m) for 2015.

Wige, which agreed a strategic partnership with the Alibaba Sports division of Chinese e-commerce company Alibaba Group in February, said that turnover in 2016 is likely to grow by more than 10 per cent.

The full-year consolidated result for 2015 was a loss of €1.5m – down from a positive result of €100,000 in 2014. However, the company expects earnings before interest, tax, depreciation and amortisation to more than double to €4m in 2016.

Wige expects to reach a revenue threshold of €100m by 2018.